Brandywine Global Investment Management LLC Increases Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Brandywine Global Investment Management LLC boosted its stake in Conagra Brands, Inc. (NYSE:CAG) by 18.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,833,831 shares of the company’s stock after buying an additional 433,276 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.59% of Conagra Brands worth $78,639,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CAG. Norges Bank bought a new stake in Conagra Brands in the 4th quarter worth about $168,877,000. Two Sigma Advisers LP grew its holdings in shares of Conagra Brands by 106.4% in the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after acquiring an additional 3,133,200 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Conagra Brands during the third quarter valued at approximately $65,932,000. State Street Corp lifted its holdings in Conagra Brands by 7.4% during the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after acquiring an additional 1,691,945 shares during the period. Finally, Ilex Capital Partners UK LLP purchased a new position in Conagra Brands in the third quarter worth $46,990,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

CAG opened at $26.55 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The stock’s 50 day simple moving average is $25.63 and its 200 day simple moving average is $27.63. The firm has a market cap of $12.67 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and dropped their target price for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Bank of America decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Barclays reduced their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, Morgan Stanley assumed coverage on Conagra Brands in a research note on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $28.20.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.